Portland, OR, June 27, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global endovascular aneurysm repair market generated $2.64 billion in 2020, and is projected to reach $4.35 billion by 2030, growing at a CAGR of 4.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Significant surge in the cases of aortic aneurysm, increase in the geriatric population, rise in the number of smokers, and availability of favorable reimbursements for EVAR procedures & devices are expected to drive the growth of the global endovascular aneurysm repair market. On the other hand, lack of awareness among people is expected to hinder the growth to some extent. However, persistent technological advancements in endovascular aneurysm repair are expected to create ample opportunities for the industry.
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COVID-19 Scenario
- The outbreak of COVID-19 has had a negative impact on the growth of the global endovascular aneurysm repair market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the decreased focus and emphasis on endovascular aneurysm repair as more and more healthcare professionals in hospitals and clinics increasingly focused on the rising COVID-19 infections among people. This resulted in its decreased demand and negatively affected the market.
- However, the market is expected to recoup soon.
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The report offers a detailed segmentation on the global endovascular aneurysm repair market based on indication, site, anatomy, product and region.
Based on site, the infrarenal segment held the largest market share in 2020, garnering more than four-fifths of the global market. The pararenal segment, on the other hand, is predicted to cite the fastest CAGR of 5.5% during the forecast period.
Based on anatomy, the traditional segment held the majority market share in 2020, holding nearly three-fourths of the global market. The complex segment, on the other hand, is predicted to exhibit the fastest CAGR of 5.4% during the forecast period.
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Based on region, the market across North America held the lion’s share in 2020, garnering around two-fifths of the global market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 5.9% during the forecast period.
The key players analyzed in the global endovascular aneurysm repair market report include Medtronic plc., Cook Medical Inc., Endologix, Inc., Lombard Medical, Inc., W. L. Gore & Associates, Inc., Cardinal Health Inc., Becton Dickison and Company, Terumo Corporation, Abbott Laboratories, and Konninklijke Philips N.V.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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